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. >>reporter: if congress fails to avoid the fiscal cliff the financial consequences are significant. now there's a computer program that will figure specifically what each of us can expect next year. tax policy center fiscal cliff calculator peck your category married single with or without children enter the income and press to, it will pop up but you have to cough up next year. >> 17,000 dollars higher. that's a lot. >>reporter: jason is an engineer from cupertino with wife and 3 kid. he's looking at extra 17,000 in change. renee of carson just calculated what her family will pay. >> my god. that's another additional, i mean, deduction. >>reporter: 4 dollars short of 3000 dollars. >> i know. i know. >>reporter: she says it's like losing a month salary for her or her husband. pretty significant reduction. >> oh, yes. yes. it's a big one. >>reporter: here's other quick calculations. single person making 46,000 can count on increase of 1300. married with no children income of 57,000 it's an extra 2200 you will be paying. married with two kids and income of 146,000, 7300 more.
karsashian is 12 weeks longer pregnancy. >> still ahead falling of the fiscal cliff. congress meeting again today and the vice president getting in on the talks. we will have the latest with out or a political expert michael yaki. >> trapublic transit is making sure that riders get around save this holiday season. we will be back in a few >> we have our second report of icing conditions now. we sort of expected the first ones here for the ride on san pablo dam road where one accident was caused by black eyes. what crews have been dispatched because some of the underground wiring got cut because of this accident. now the north bay and the ride on 1 01, we will take a look at the ride on the frontage road in the north bay right off of highway 1 01. there is a report of icing conditions, not on the freeway but on the and chase said frontage road that the accident occurred. >> new this morning to people in the hospital after a fire that's a home in the excelsior district around 1:00 this morning on athens street. jackie sissel is live on the scene with more of what happened. >> crews have left
!íÑu congress to keep the country from plunging over the fiscal cliff, deadline midnight eastern time when the new year begins. senate democratic leaders stuck in a stalemate. senate leaders have called in vice president biden to try and jumpstart an ice breaker before higher taxes and deep cuts. the senate recon convenience 8:00 our time, stay tuned. -- we'll have the latest in 30 minutes. >>> leaders in the house and senate reached a deal on one thing, they'vekn%ñ agreed to extend the 2008 farm bill for one more year that expired in october. thistvp' means milk prices could have doubled to $7 a gallon next month. the deal prevents the government from returning to a prices. some call this the dairy cliff that now we are not going to have to fall off. >>> the notorious party night of new year's eve is hours away. law enforcement has already been cracking down on drunk drivers. chp arrested 123 people for dui over the weekend in the bay area that. number is down from the same time last year, when officers busted 161 drivers. there were no fatal crashes over the past two days this time last
cliff worries president and congress back in d.c. to talk about n'ozn budget today. toyota 1.1 billion dollar charge to settle a lawsuit has to do with more than 10 million vehicles recalled for unintended acceleration from claims the value of vehicles went down as a result. k)Ñ exchange#dww, with the bloomberg business report. >>> coming up, do you use those companies that give you a cash advance on your paycheck? you magb(:l be getting some of protected panda.id;gp >> good morning. 5:53. you see the embarcadero, bay bridge you don't see rain or traffic. we'll check in with sue and find out what is going on, on the highways. we'll find out where the rain is with mike. >>> u.s. department of commerce is due to release figures for new home sales, today's updates will hold stead if i not rise a bit they predict 375,000 in new sales. housing numbers slipped last month, new building permits ticked higher, commerce department is expected to release its new report at 7:00 this morning. >>> thousands of california residents could be getting a big check thanks to a payday loan settlement. as
to avoid the fiscal cliff rapidly approaches. president obama says he's optimistic that congress will reach a deal in time. chris mozingo has the story. >> reporter: converses running out of time if before the economy will go over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike will not do much to address the debt. >> the top 25 of american will not even pay one-third of the annual interest that is owed for this 16 trillion dollar debt. >> washington will return before the end of the year but they are likely to be burning the midnight oil. >>> we'll take a quick break on kron 4 news weekend. but first, let's take a live look outside at san francisco from our roof cam here on van
. >> and deadline day with the "fiscal cliff" just around the corner. why congress still can't close the deal. >> reporter: and we're live in san francisco, where firefighters are calling a house fire in the excelsior district suspicious. we'll tell you why and what may be behind the cause. ,,,, ,, it seems our angels have been busy building a new, stronger angel soft®. it's built with two softshield™ layers. stronger, holds up better, and still a value you love. new angel soft®. now stronger than ever. dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. house fire in san >> your realtime captioner: linda marie macdonald >>> arson investigators looking into a house fire here in san francisco. what made things so dangerous for the firefighters. >> skies clearing out very chilly around the bay area. will it rain on new year's eve? we'll talk about that coming up. >> and bart is offering extended service later on tonight for the new year's eve holiday. a check on that plus the rest of your morning commute. >>> good morning, everyone. it's mo
the upcoming fiscal cliff. >> we are taking it outside, this is the roof cam from downtown san francisco. we are still lit up over this and it's as the skyline. we are enjoying clear skies and the mergers are in the 40's. dry, sunny conditions into the afternoon. we will continue to see mostly clear skies as we head into tonight. it is kind of cold out there, out 40 in vallejo and fairfield. oakland and san francisco coming in at 47 degrees. we're expecting mainly low 50s today we'll talk about how much rain we are expecting coming up in my next report. >> we continue to look at light traffic at bay area bridges. we have just a bit of a delay in the left-hand cassoulet and likely associated with the shift change with toll takers. the east bay and south bay peninsula still have light traffic on the freeways. >> the time is 6:01 a.m. and one person is that after an officer involved shooting in walnut creek. will tran is live on the same. >> good morning i just finished talking to the walnut police department and there is no search for any additional suspects. one person was involved and office
of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that sell food or alcohol cannot distribute plastic bags to their customers. in place of the single use bags stores are allowed to use paper or reusable bags but they have to charge at least a dime for each bag. customers are being encouraged to bring their own bags when shopping. restaurants can still provide plastic bags to customers. >> i'm trying to remember. >> some of the places i go they give you a discount. they give you five cents if you bring your own bag. >>> time now 6:08. tara is back to talk about your commute. you're also telling us about free rides for new years eve. >> that is right. muni is free from 8:00 tonight until 6:00 tomorrow morning.
and congress to avoid the fiscal cliff. >>> at the vatican, pope benedict the 16th presided over christmas eve mass. he urged people to make room for god in their busy lives. the catholic pope also prayed for peace in israel, palestine and syria. this year midnight mass was moved up two hours to 10:00 p.m. to accommodate the ageing church leader. >>> clear skies kept travelers on track at sfo today after long de lay this is past weekend. as atly reports, this day before christmas is a busy one. >> the security line snaked throughout terminal 2 in san francisco international airport this morning. travelers shuffled through to chasm flights to arrive in time for christmas morning. >> everybody twoonts go home and see family. >> friday, december 21st, was technically the businessest day of holiday travel season for sfo with 130,000 people passing through, but christmas eve isn't too far behind with 120,000 airline passengers expected to. for some holiday traveler, the last-minute journey was a matter of price. >> i picked the 24th because it was, like, $250 less than what was on saturday or sunda
. >>> the president and congress will try one more time to reach a deal before falling off the fiscal cliff. the president will cut his vacation short. >> happening now bargin hunters out looking for a day after christmas sale. we are live at the valley fair mall to tell us about those deals. >> reporter: hi. if you have something to return or you need to use a gift card it's a good time to come. there are plenty of spots where you can park and i just walked inside in to the mall and it's not crowded at all. at the valley fair mall the stores all opened at 7:00 a.m. people wanted to take advantage of the after christmas sale. traffic this morning was light. kohl's opened up even earlyer at 5:00 a.m. they were trying to lure people with early bird deals. it's one of many retailers offering deep discounts. ? one woman wasn't impressed when she shopped. >>> did you find anything? was --. >> actually one of the things i needed to exchange is now full price and i'm not, last year's deal was better. >> reporter: polls showed that sales of two months before were the weakest since 2008. they grew
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay
the fiscal cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is all decked-out for the game this afternoon against the u.s. navy academy and arizona state. everyone's spirits are high and the game is bringing a boost for the local economy. >> many are here for an extended weekend. >> two teams really excited to be here and their fans are excited to be here. gosh, i think we are filling up all the hotels in san francisco. >> 33,000 tickets have been sold for the match-up. at&t park can take 40,000 so not at capacity yet. organizers believe it will be another banner year for the hunger goal. it's brought the city more than $130 million over the past 11 years. that's an average of
cliff. we was see what congress will do today. >> we are seeing an increase and cloud cover. it is a cold start outside. as we head into afternoon rain chances could start for the bay area. as we take a look at the numbers. it is 30 degrees in santa rosa. it is 39 currently in fremont. tomorrow morning we went may wake up to rainy weather. >> we are looking at pretty light traffic around the bay area. i do not think that we will see anything different than what we have seen all week long. right now but quick commute check shows there is a like ride through the east bay. the rest of the bay area freeways are also pretty light. >> developing this morning. three homicides in oakland to overnight. the first was a double shooting on 18800 block mead street in westhe 800 block of meat street in west oakland. that happened around 1 this morning. police are still on the scene investigating. then at 230 atm a stabbing in the 5800 block of walnut street. this is a developing story right now, we will keep you posted throughout the morning as more details, available. >> an 18 year-old m
>> with congress in recess. and the president on vacation in hawaii. not much is happening in the fiscal cliff situation. it would mean a series of tax hikes and spending cuts taking effect in about a week. on wall street. the dow lost 52 points in a shortened christmas eve trading day. the nasdaq dropped eight. and the s-and-p lost 3 points. >> catherine: there could also be what you might call a 'dairy cliff'. beginning next year, you could pay as much as seven dollars for a gallon of milk if congress doesn't step in. with the focus on the fiscal cliff - other legislative matters are falling by the wayside.including a stalled farm bill. certain protections for farmers are expiring. one of them is the dairy subsidy, which ends january first. if congress doesn't act before then, the u-s would revert back to a 63-year-old dairy policy. it would force the government to buy milk at inflated prices, driving up the cost.. ------------------------ now showing les miserables- >> quentin tarantino takes movie goers to the deep south of a plantation owner ...with leonardo eicaprio samuel l. jackson and
tossed the fiscal cliff problem to the senate today. saying once the senate has a plan congress can go forward. john fowler investigated some of the latest moves and joins us live with what could happen a week from today. john? >> reporter: do mog, we get deep spending cuts and across- the-board tax hikes. con shull staffers told me -- congressional staffers told me today, expect a bumpy ride of the halls of power empty, although negotiateders and the president are back at work. >> at the very least let's agree right now on what we already agree on. >> reporter: an olive branch to the gop and carrot to corporate giants, including the bay area's google and apple. the administration now suggesting cutting corporate tax rates. the u.s. has among the world's highest. but closing loop holes that helped google, for instance, avoid $2 billion in taxes last year. >> corporations are concerned because they're not sure the extent to which exemptions would be eliminated. >> reporter: wells capital management senior economist gary slosberg is optimistic about a deal. >> i see it at least 50-50.
the fiscal cliff. leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number three, secretary of state clinton, still in the hospital this morning. getting treated with blood thinners for a blood clot. the clot was found yesterday during a follow-up exam. the secretary suffered a concussion from a fall ii >> number four, stanford cardinal will make a final run through in pasadena opponent wisconsin appearing in its third straight rose bowl. they hope taylor will -- taylor -- >> number five, plenty of transit options from new year's eve revelry bart will run trains until 3:00 tomorrow morning, tree to ride muni 8:00 tonight -- free to ride muni 8:00 tonight. bart is not free. >>
the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the
the list. >>> and congress, running out of time to stop the u.s. economy from going over the fiscal cliff. jamie dupree is in washington, d.c. where new numbers are being tossed around this morning. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. >>> stocks are mixed. they were found for a while. that would be down for the fifth day in a row. the five-day losing streak for the dow would be the longest since july. the dow you can see it's turned positive. it's up just slightly. the nasdaq is also up 22. s&p down 4. now, u.s. stocks are not the only indexes affected. the major european indexes are d
of the so-called fiscal cliff, a series of tax hikes and spending cuts set to take effect in five days. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increase is for everyone in the spending cuts will be triggered in the new year. >> the main dispute continues to be over taxes. >>, of the kron 4 morning news changes are coming to a netflix starting next year. how the company wants to get users more connected socially and next. >> the web more attractive weather and headlines when we come back >> wexcome backed. >> time is 4:10. >> net flicks is adding more social features to it streaming media service in the u.s.. >> the company confirms that the congress passed a bill that drops restrictions on sharing user's video rental history. these revisions now with president obama signature before becoming law. >> lifting the
. but -- >>> the federal fiscal cliff is just days away. so what if we fall off? i'm michael finley. ahead on 7 on your side i will show you how to make the most out of an uncertain financial future. >> also here tonight, gun owners say they are being targeted in new york. a news paper article that >>> at the nation's capitol senators will meet tomorrow in ongoing effort to avoid the fiscal cliff. president obama is about to end his family vacation in hawaii and will arrive in washington early tomorrow to deal with the tax increases and spending cuts that are due to take effect next week. no official fiscal cliff negotiations between republicans and democrats have been scheduled. not a great deal of progress. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficul
-called "fiscal cliff." and as the clock ticks, republicans and democrats in congress are still butting heads. vice president joe biden is now directly involved in the 11th-hour negotiations. but, there's no deal if sight. and that means taxes could go up for just about everyone american as soon as tomorrow. >>> a tense takeoff for passengers aboard a flight from kansas city to denver. a piece of an engine covering fell off. a passenger snapped this photo. the united flight circled the airport there in kansas city for 20 minutes before making an emergency landing. >>> and indianapolis colts head coach chuck pagano is back. in the saddle. enjoying a triumphant return. pagano was on the sidelines on sunday for the first time since fighting his leukemia. it went into complete remission. the 52-year-old returned after a three-month absence to tears and cheers of joy, and a win for his comeback colts who are now in the playoffs. >>> and, finally, a good holiday weekend for hollywood. "the hobbit" was once again the number one draw at the box office. as it has been for all three weeks since it was
. >> if president obama and congress aren't able to avoid the fiscal cliff people here in california will be hit especially hard because of prop 30 which was voted into law back in november. it will soon mean higher sales tax and higher income tax on the state's top earners. the fiscal cliff would add to that hitting all americans with higher taxes. >> i don't know, there's a word to describe how upset the public is going to be. nobody's going to be happy to see that happen. >> if taxes go up on everybody it's not going to be a happy time. but i think that's inevitably what's going to happen. >> they say the lowest income folks will see their take home pay shrink just over three and a half%. average earners 4% and top earners 6%. >> another sign the housing market is improving, the national association of realtors says pending home sales rose last month to the highest level in 2 and a half years. pending sales rose nearly 2% in november and that's the third month in a row it's gone up. >> amazon had a green christmas season. they announced the 2012 holiday sales were the biggest ever. they had s
moves closer and closer to the brink of that fiscal cliff with massive spending cuts and tax hikes set to automatically kick in. they are trying to come up with a last minute compromise. president said any bipartisan bill would have to extend unemployment benefits affecting some 2 million americans. it would also have to increase taxes on the highest income earners. >> just can't afford a politically self-inflicted wound to our economy. the economy is growing, but keeping it that way means that the folks you sent to washington have to do their jobs. >> the president's proposal to raise taxes on the top two percent of americans won't even pay one-third of the annual interest that's now owed on the massive $16 trillion debt. >>> the house returns tonight just one day before a deal needs to be reached. it's likely negotiators will be burning the midnight oil as the clock ticks down to 2013. >> much more on the fiscal cliff this morning on abc's "this week i charles shumer of new york and republican senator john kyle of arizona debate the last-minute efforts. that's coming up at 8:00 this
go over the fiscal cliff. where both sides are right now. ♪ you used the oven? boom ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >>> good morning. a frigid start. 30s and 40s outside our door. giving you a beautiful spot of union square. a great day too ice skate and maybe do some shopping. >>> at least two firefighters have been shot while responding to a house fire in new york. it happened shortly before 6:00 eastern time near lake ontario. firefighters were shot as they arrived at the scene. one is said to be in satisfactory condition. >> the other's condition is unknown at this hour. firefighters are not fighting the fire right now because they are waiting for police to finish evacuating the area as they search for a shooter. the fire has now spread to other homes. >>> the bickering continues a week away from the fiscal cliff. talks to try to prevent automati
. >>> consumer confidence has fallen because people are so worried about that fiscal cliff. the index has hit the lowest level since august. the concern is over tax increases and government spending cuts set to take effect january 1st if the white house and congress can't reach a deal. >> toyota is forecasting sales of nearly ten million vehicles next year and it's expected to reclaim the title of world's largest automaker. the company is on pace to sell 9.7 million this year which would put it ahead of gm. it would also be up 22% from last year when it was unable to meet demand arch its factories and suppliers were hurt by the quake, tsunami and natural disasters. >>> and toyota will reportedly play $1.1 billion to settle lawsuits over car that accelerated unexpectedly. toyota recalled 14 million vehicles around the world. the settlement still needs a judge's approval and toyota faces lawsuits over injuries and deaths the problem. >>> wells fargo doesn't have to pay $203 million to customers after a united states appeals court overturned a decision. the first ruling was ordered at the san f
lawmakers are running out of time to reach a deal on the so-called fiscal cliff. senate leaders are working on a last-ditch bipartisan agreement. they hope to vote on it as soon as tomorrow, possibly monday. both houses of congress will reconvene tomorrow. the main sticking point remains tax increases on the wealthy. while some republicans suggest raising taxes for those earning at least a million, president obama and democrats want increases on anyone making more than $250,000 a year. >> we just can't afford a politically self-inflicted wound to our economy. the economy is growing, but keeping it that way means that the folks you sent to washington have to do their jobs. >> in this morning's weekly address, the president says congress must meet the new year's deadline and pass a balanced plan that offers middle class tax cuts and reduces spending in a responsible manner. >> the president's proposal to raise taxes on the top 2% of americans won't even pay one third of the annual interest that's now owed on this massive $16 trillion debt. >> missouri senator roy blunt delivered the gop weekl
the fiscal cliff. both houses of congress will reconvene today. the senate is expected to work two hours from now. while president obama wants a tax increase for those earning $250,000 there is a proposal on the table that raises that income threshold to $400,000. >> i think we need a deal. we should do a deal. if lindsey and i could sit down we will put that together. i think the leadership is now working. >> republicans hope to raise the income threshold to $400,000 and keep state taxes low. if the parties can't agree, presidt oba -- [lost audio] >>> and parts of ohio the latest storm comes days after the region's were hit by another storm which is being blamed for add least 16th deaths. the national weather service is expecting up to a foot of new storm. officials have lowered the speed limit on the pennsylvania term pike. boston's mayor announced a snow emergency in parts of the city. they worked for hours to keep the area clear. despite heavy snow and dangerous driving conditions patriot fans braved the elements. >>> meanwhile before what was supposed to be a fun outing in southern calif
Search Results 0 to 26 of about 27